UiPath Named a Leader in Everest Group’s Process Mining Products PEAK Matrix® Assessment 2024

Rhea-AI Summary

UiPath (NYSE: PATH), a leader in enterprise automation and AI software, has been named a Leader in Everest Group's Process Mining Products PEAK Matrix® Assessment 2024 for the fifth consecutive year. Additionally, UiPath was recognized as a Star Performer by Everest Group. The company's Process Mining transforms data from systems like SAP and Salesforce into interactive dashboards, revealing process inefficiencies and potential automation opportunities. Key strengths include ease of use, visualizations, data source integrations, and continuous monitoring capabilities. Enhancements include a data model editor, conformance checking, and process graph animation. Everest Group highlighted UiPath's strong market impact, product vision, and innovative generative AI capabilities.

Positive

• UiPath named a Leader in Everest Group's Process Mining Products PEAK Matrix® Assessment for the fifth year.
• Recognized as a Star Performer by Everest Group, acknowledging market impact and vision.
• Strong year-over-year growth in the process mining business.
• Enhanced interoperability with UiPath's automation suite.
• Investments in product innovation and generative AI capabilities.
• Ease of use, process visualizations, and integrations praised by customers.
• Over 50 pre-built connectors to common systems like SAP and Salesforce.
• End-to-end experience provided by Continuous Discovery, including process and task mining.
• Recent enhancements: data model editor, conformance checking, and process graph animation.
• Real-time monitoring capabilities with UiPath Insights.

Negative

• No specific financial data or revenue figures disclosed.
• No mention of new major client acquisitions or partnerships.
• Potential challenges in maintaining year-over-year growth amid increasing competition.

Company also named a Star Performer by Everest Group in recognition of UiPath’s strong market impact and vision for Continuous Discovery

NEW YORK--(BUSINESS WIRE)-- UiPath (NYSE: PATH), a leading enterprise automation and AI software company, today announced that for the fifth consecutive year it has been named a Leader in the Everest Group Process Mining Products PEAK Matrix® Assessment 2024.

UiPath Process Mining transforms transactional data from backend systems such as SAP, Salesforce, ServiceNow, and Oracle into visual interactive dashboards. The dashboards provide a view of the as-is processes and KPIs, allowing users to identify process bottlenecks or discrepancies, and leverage AI to understand the root-causes or possible risks. Process Mining reveals the current state of the process, enabling organizations to identify automation and improvement potential in end-to-end business processes.

In its evaluation of UiPath Process Mining, Everest Group reported that customers cited ease of use, process graph visualizations, integrations with external data sources, continuous monitoring capabilities, and ability to detect bottlenecks in processes as strengths. The firm stated UiPath is an excellent choice for clients seeking an integrated solution to handle a wide range of use cases. The firm also found that UiPath platform strengths include human-in-the-loop accuracy verification and use of GenAI in document mining processes.

UiPath is the only process mining offering that enables organizations to seamlessly discover, understand, optimize and automate, and monitor complex processes to achieve their desired business outcomes like working capital optimization, cycle time reduction, or throughput time decrease.

“UiPath’s process mining product strategy is focused on helping enterprises continuously monitor and improve their processes. Strong year-over-year growth in its process mining business, enhanced interoperability with its automation suite, and investments in product innovation and generative AI capabilities such as Autopilot have helped UiPath strengthen its position as a Leader and emerge as a Star Performer on Everest Group’s Process Mining Products PEAK Matrix^® 2024,” says Amardeep Modi, Vice President at Everest Group. “Its product vision and roadmap, product’s ease of use, ability to visualize process maps and detect bottlenecks, and customer support are some of the key strengths highlighted by its clients.”

Whether in the cloud or on-premises, UiPath Process Mining boosts success rates for automation and digital transformation. In addition, UiPath Process Mining comes with a robust set of more than 50 pre-built connectors to common systems like SAP, Oracle, Salesforce, ServiceNow, and other large enterprise software to allow customers to gain insights into operations by creating corresponding process models.

“UiPath Continuous Discovery, including Process Mining, helps organizations create a strong link between process analysis and actionability. Continuous Discovery bridges the gap between strategy, automation, and execution in line of business processes for improved process performance and productivity,” said Graham Sheldon, Chief Product Officer at UiPath. “I believe this recognition of UiPath Process Mining by Everest Group reflects how our integrated automation, AI, machine learning, and process discovery offerings are changing the process transformation and innovation landscape.”

UiPath Continuous Discovery provides an end-to-end experience to identify, visualize, and diagnose bottlenecks with Process Mining and drill into task-level detail with Task Mining. With this data in hand, UiPath provides clear actionability for one-click generation of automation, simulation to understand potential ROI savings, and tracking/prioritizing process improvements with the necessary documentation to make the ideas actionable. Integration with Task Mining allows customers to access both system- and task-level information and drill down from end-to-end process to specific task steps/activities. This helps determine bottlenecks, their impact on KPIs, and define the best action items to improve the process.

Integration with Automation Hub allows you to centrally capture and manage ideas, prioritized by impact and ROI.

With integration into Task Mining and Automation Hub, companies can identify work from line of business system data and user desktops and crowdsource automation ideas.

Recent UiPath Process Mining enhancements include:

• Data model editor: customizes the data model of your process app for end-to-end insights of objects in business processes.
• Conformance checking: empowers users to continuously monitor whether the business process complies with requirements.​
• Process graph animation: allows users to better read, interpret, and interact with the process graph to analyze and act.
• Model-based process mining: reduces noise in the process graph by showing parallelism and loops in an easy-to-understand way. This function aligns with TRACY, a UiPath patent-pending proprietary algorithm that simplifies process graphs and improves users’ visual experience.

In addition, UiPath Insights allows for real-time monitoring of automations and processes to measure and forecast the performance of each automation.

Everest Group’s Process Mining Products PEAK Matrix® Assessment is an annual industry assessment providing analysis and insights on process mining vendors and products to assist enterprises in their selection processes. The findings—which are based on an evaluation of vendors’ impact on the market, overarching vision and product capabilities and support, innovation, and significant performance improvement—are seen as benchmarks in standards and quality for the industry. As part of the evaluations, vendors are classified into Leaders, Major Contenders, and Aspirants, based on key dimensions.

Download the custom report here.

About UiPath

UiPath (NYSE: PATH) is on a mission to uplevel knowledge work so more people can work more creatively, collaboratively, and strategically. The AI-powered UiPath Business Automation Platform combines the leading robotic process automation (RPA) solution with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time-to-value. For organizations that need to evolve to survive and thrive through increasingly changing times, UiPath is The Foundation of Innovation™. For more information, visit www.uipath.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240613511190/en/

Media

Pete Daly

UiPath

pr@uipath.com

Investor Relations

Allise Furlani

UiPath

investor.relations@uipath.com

Source: UiPath

FAQ

What is the significance of UiPath being named a Leader in Everest Group's Process Mining Products PEAK Matrix® Assessment 2024?

Being named a Leader for the fifth consecutive year signifies UiPath's strong market impact, product vision, and capabilities in process mining.

What are the key strengths of UiPath's Process Mining as highlighted by Everest Group?

Key strengths include ease of use, process graph visualizations, integrations with external data sources, and continuous monitoring capabilities.

What new enhancements have been made to UiPath Process Mining?

Recent enhancements include a data model editor, conformance checking, process graph animation, and real-time monitoring with UiPath Insights.

How does UiPath's Process Mining integrate with other systems?

UiPath Process Mining has over 50 pre-built connectors to systems like SAP, Salesforce, Oracle, and ServiceNow, allowing comprehensive data insights.

What role does generative AI play in UiPath's Process Mining?

Generative AI capabilities, such as Autopilot, enhance UiPath's process mining by improving automation and process discovery.

Why was UiPath recognized as a Star Performer by Everest Group?

UiPath was recognized as a Star Performer due to its strong market impact, continuous innovation, and enhanced product capabilities.

How does UiPath Process Mining benefit organizations?

UiPath Process Mining helps organizations identify process inefficiencies, enabling automation and improvements for better productivity and performance.